(Bloomberg) -- Crude oil fell for the first time in
four trading days in New York amid speculation that U.S.
stockpiles are sufficient to meet the needs of refineries making
gasoline for the peak-demand summer months.
U.S. crude oil supplies in the week ended May 25 were 7.2
percent higher than the five-year average for the period, the
Energy Department said May 31. Eighteen of 46 analysts surveyed
by Bloomberg News last week, or 39 percent, said oil prices would
decline this week.
Read more at Bloomberg Commodities News
four trading days in New York amid speculation that U.S.
stockpiles are sufficient to meet the needs of refineries making
gasoline for the peak-demand summer months.
U.S. crude oil supplies in the week ended May 25 were 7.2
percent higher than the five-year average for the period, the
Energy Department said May 31. Eighteen of 46 analysts surveyed
by Bloomberg News last week, or 39 percent, said oil prices would
decline this week.
Read more at Bloomberg Commodities News
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